Light economic calendar

Looking at the session for Monday, there’s almost nothing for economic announcements to move the market. The European Union has Industrial Production numbers, but that’s about it. With this, we look at the charts and anticipate a fairly quiet day.

USD/CAD continues to be bullish longer-term

The USD/CAD pair continues to find support every time it falls, so we are looking towards short-term charts in order to start buying calls. We believe eventually this market will break out. We believe that this market will reach towards the 1.35 level over the longer term but the volatility will keep us to the short-term charts.

WTI Crude Oil continues to consolidate

The WTI. Oil markets fell slightly during the course of the day on Friday, but remain well within the consolidation area. We believe that the $44 level begins pretty significant support, so therefore we are looking at buying calls once we get to that general vicinity. It is not until we break down below the $43 level that we would consider buying puts.

FTSE falls, but should find support below.

The FTSE fell during the session on Friday, but we believe that there is more than enough reason to think that the buyers will come back into the market. The 6000 level below should be the “floor” in this market, and we are looking for supportive candle in order to serve buying calls yet again as we think eventually the FTSE will break out to the upside.